LO.2 Determine the realized, recognized, and postponed gain or loss and the new basis for each...

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LO.2 Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges. Adjusted Basis of Old Asset Cash Boot Fair Market Boot Given Value of New Received Asset a. $ 7,000 $ -0- $12,000 $4,000 b. 14,000 2,000 15,000 -0- C. 3,000 7,000 8,000 500 d. 15,000 -0- 29,000 -0- e. 10,000 -0- 11,000 1,000 f. 17,000 -0- 14,000 -0- g. Create a Microsoft Excel spreadsheet that-by entering the fair market value and basis of property given up and the fair market value of property received-will compute (1) realized gain or loss, (2) boot received, (3) boot given, (4) gain (loss) recognized, (5) gain (loss) deferred, and (6) the basis of like-kind property received. In separate tabs, the spreadsheet should apply the "simplified method" and the "alternative method." Ignore the implications of debt and depreciation. LO.2 Determine the realized, recognized, and postponed gain or loss and the new basis for each of the following like-kind exchanges. Adjusted Basis of Old Asset Cash Boot Fair Market Boot Given Value of New Received Asset a. $ 7,000 $ -0- $12,000 $4,000 b. 14,000 2,000 15,000 -0- C. 3,000 7,000 8,000 500 d. 15,000 -0- 29,000 -0- e. 10,000 -0- 11,000 1,000 f. 17,000 -0- 14,000 -0- g. Create a Microsoft Excel spreadsheet that-by entering the fair market value and basis of property given up and the fair market value of property received-will compute (1) realized gain or loss, (2) boot received, (3) boot given, (4) gain (loss) recognized, (5) gain (loss) deferred, and (6) the basis of like-kind property received. In separate tabs, the spreadsheet should apply the "simplified method" and the "alternative method." Ignore the implications of debt and depreciation.